| What is the definition of identity theft? As defined | | | | of its members. This is the organization who |
| by the Federal Trade Commission, "Identity theft | | | | dictates how Certified Public Accountants must |
| occurs when someone uses your personal | | | | perform. They have given Certified Public |
| information without your permission to commit | | | | Accountants a year of free credit monitoring and |
| fraud or other crimes. While you can't entirely | | | | tried to assure members that less than one |
| control whether you will become a victim, there | | | | percent are affected by identity theft. If you do |
| are steps you can take to minimize your | | | | the math, that computes to approximately 3,300 |
| risk."Identity theft is a growing problem in the | | | | professionals that are now at risk. I resent that |
| country according to police, the federal trade | | | | fact that they still carry my information after |
| commission, and credit reporting agencies. Despite | | | | over five years. I have not been a member for |
| your best efforts to protect your personal | | | | greater than 5 years and personal information |
| information, it can still occur. Shredding personal | | | | was not safeguarded adequately. They have |
| information such as documents that contain your | | | | changed their procedure of requiring social |
| name, address, social security numbers, account | | | | security numbers in the data base they maintain, |
| numbers is highly advised. When you mail bills, | | | | but this is like shutting the gate after the horse |
| they should be dropped off at the post | | | | gets out.There is a growing problem in this |
| office.Despite my best efforts, this now has hit | | | | country and our ethics are slipping. Individuals who |
| home with me. Someone used my name and title | | | | are professionals are committing crimes against |
| to secure a loan for a home. I called the local | | | | their clients and the general public. No one will |
| police department to report this incident and they | | | | speak out against their own profession for fear |
| closed the case because I did not know who had | | | | of retaliation by their peers. This is in any |
| created this bogus letter used to secure the loan. | | | | profession and it is time to stop. Medical |
| I attempted to find out who had done this with | | | | information which contains personal information is |
| both the mortgage broker and the lender and | | | | being outsourced to foreign countries that do not |
| neither one would help.Tax preparers can sell their | | | | follow our stricter guidelines. Accounting and tax |
| client list to third parties with consent from the | | | | information is also outsourced to foreign countries |
| client. This is a 30-year-old regulation that is under | | | | as well as legal documents through attorneys. |
| revision by the IRS which determines how tax | | | | There is a cost savings to these professionals, |
| preparers can seek consent to use or disclose | | | | but who pays the ultimate price - the client |
| information. National Taxpayer Advocate Nina | | | | does.There is a saying that money is the root of |
| Olson believes that disclosure of tax related | | | | all evil. Money itself is not evil. Money is power. |
| information is not strong enough and preparers | | | | People are control hungry and misuse power. |
| can determine what constitutes disclosure.The | | | | They are in control and love the feel of power |
| American Institute of Public Accountancy (AICPA) | | | | and use it to hurt others. This also has happened |
| recently sent out a letter to over 330,000 | | | | to me in a business relationship. You can see it in |
| members notifying them of a lost hard drive that | | | | the headlines daily. When are we going to fight |
| contained personal information | | | | back? When are we going to do something about |
| (i.e. name, address, and social security numbers) | | | | this situation? |